Where Did All My Money Go?

Have you ever asked yourself this question? More over, do you have the answer?

If you are like most people, you may have a general idea where the large sums of your money is going, but probably not a full grasp of nickel & dime portions. This is the largest unreckonized enemy that most people face when dealing with financial problems.... "not knowing where their money is going".

In this article we'll explore strategies that will help you find and plug those leaks in your wallet. You will probably be shocked once you see how much of your money is being nickeled & dimed. Some of my clients have uncovered up to $800 of money per month that had seeped through the cracks of their financial budget.

So let's get started! It's really quite simple actually! For the next 30 - 60 days, carry a notepad and write down every dime you spend (large & small sums). Whether you are writing a check to pay your mortgage or rent, or putting a quarter in a bubble gum machine, write it down. Again, at the end of this project, I think you will be shocked at where your money is going. Of Course, now that you know where your money is going, use your list to determine which leaks need to be plugged and which leaks need to be curved.

Most people, including myself, hate the word budget. However, like it or not, a budget if used correctly, can help you manage your money by only spending money as you have planned (budgeted). When you create your budget, don't forget to account for all of the in-between stops at the grocery store in your grocery budget. In-between grocery store stops are a huge gap that most people don't account for. Also don't forget areas like, eating out for lunch at work, the daily latte, pop & snack machine purchases, family vacations/trips/activities, holiday & birthday gifts & other not so routine expenses.